For those of you that have tried all the methods, what have you found to be your best return on investment both in time and money to drive motivated sellers to you?
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Regards,
Jeremy Brandt
Being a newbie at this, I too would be interested in learning the more effective ways to attract sellers!
While I do alot of types of marketing such as vehicle signage, bus benches, business cards and flyers, I find that direct mail is the best use of my marketing dollars. These mailings are very focused, bring a high response rate since they are targeted and bring me the best result for the least amount of marketing dollars spent. In addition there is no competition for these leads.
Of course… like I said in the other post…
Banditsigns… cost per lead… about $10 - 30 bucks depending on which voicemail I’m using to screen… And cost per deal about $150…
You’ve got to test your self… to see what works… and go from there…
Figure out your cost per lead… and then figure out your cost per sale…
David Alexander
I would also suggest using between three and five marketing techniques at any given time. When you do only one type of marketing you limit your resources as far as motivated sellers. Different types of sellers will come to you in different ways. I combine direct mail, vehicle signage, bandit signs, bus benches and business cards. Sometimes you will also have a seller who sees your advertising in more than one place and this also adds credibiltiy to your business. Kathy
For me the best ROI comes from:
Direct Mail (postcards and letter):
-Mail a sequence of at least 3 every 7-10 days, follow-up, follow-up, follow-up
Community Papers:
-More targeted than major newspapers
-Use a display ad or classified advertising a “free special report” to generate leads
Business Cards:
-Think of it as a small display ad
-Use bi-fold to give yourself more room communicate your marketing message
Good luck!
Jason
What are your numbers…
How much per lead…
How much per ad…
Penny saver ads, refferrals… etc, etc… were the best I’d ever used when I had tried or compared to anything else… Once I started tracking the costs and numbers… it was pretty easy to see the results…
David Alexander
Networking is #1.
While all of the other methods offer you more immediate results. Networking takes time and money to cultivate with little or no return initially. After the time and effort though, the leads and money come FREE.
One word in networking is NICHE. dont try to be everything to everyone, decide on your target market and cater cater cater, look at the competition, find what they dont do (usually because they are lazy) and start providing SERVICE. this will yield the largest profits with smallest investment in the long run.
Just my 2cp
There’s a fallacy there…
Although, it provides the least expensive leads… It’s the least viable way to be able to track results… And deals that come in from networking or word of mouth…
In my mind should be treated as gravy…
In other words, You need marketing that you can track the results with…
So, you put out 10 dollars for marketing and get 50 dollars in business or a 100 dollars…
That way you can increase your business in a repeatable passion, with repeatable numbers…
All the word of mouth, networking etc… Just Gravy…
For Instance… in the last month… I’ve had 3 deals sent to me… from networking actually several years ago… they’ll probably be responsible for me making in the neighborhood of 50k plus…
But, there is no way to guage it… I never knew these deals would come down the pike from these sources… It’s no way to run business…
David Alexander
#2 direct mail. produces a 42% profit return on investment for me.
I said networking was my biggest bang for the buck.
Cool…
I agree… Nothing beats FREE STUFF
Just wanted to make it clear… to everyone that might read…
I ran businesses for years… with NO MARKETING strategies or plans… and little advertising…
Thinking I would grow my business by leaps and bounds with word of mouth…
Just doesnt happen… Unless you can get in front of a whole lot of folks in one shot… and those folks are people who tell people…
Read a book… called… The Idea Virus By Seth Godin… great book
David Alexander
You need to have a Unique Selling Proposition. That is your primary system, which could incorporate other marketing strategies or systems.
Mine, I like to use a 24 hour call capturing system. I like to give out business cards in stores, parks, shopping centers, whereever people are just about. Another strategy is hold or conduct investor seminars, or buyer seminars, whatever. Get in front of people and share. This gives you face and name recognition. Public speaking is very fun to me having come from the teaching field. Newsletter distribution by hand is good to.